SOURCE: Highwoods Properties

Highwoods Properties

April 15, 2014 09:00 ET

Highwoods Properties Signs 91,000 Square Foot Lease

Relocates and Expands Existing Customer at Highwoods Plaza II in Nashville

RALEIGH, NC--(Marketwired - Apr 15, 2014) - Highwoods Properties, Inc. (NYSE: HIW) has signed a 91,000 square foot long-term lease at Highwoods Plaza II in Nashville with a current customer. This represents a net expansion of this customer by 32,000 square feet and secures an additional ten years of lease term.

With this lease and a previously signed 13,000 square foot lease, the Company has relet 71% of the space vacated by LifePoint Hospitals in February 2014. (Highwoods recently completed a 203,000 square foot build-to-suit for LifePoint.)

Ed Fritsch, President and CEO of Highwoods, stated, "Nashville continues to be one of our best performing markets. The Brentwood submarket, where Highwoods Plaza II is located, is very strong, with vacancy of 6% at March 31. We are in negotiations with strong prospects for the remaining 43,000 square feet of the former LifePoint space."

About Highwoods Properties
Highwoods Properties, headquartered in Raleigh, North Carolina, is a publicly traded (NYSE: HIW) real estate investment trust ("REIT") and a member of the S&P MidCap 400 Index. The Company is a fully-integrated REIT that provides leasing, management, development, construction and other customer-related services for its properties and for third parties. At December 31, 2013, Highwoods owned or had an interest in 32.2 million rentable square feet of in-service office, industrial and retail properties, 0.9 million rentable square feet of office properties under development and approximately 600 acres of development land. The Company's properties and development land are located in Florida, Georgia, Missouri, North Carolina, Pennsylvania, South Carolina, Tennessee and Virginia. For more information about Highwoods Properties, please visit our website at

Certain matters discussed in this press release, such as expected leasing activity and the related assumptions underlying our expected results, are forward-looking statements within the meaning of the federal securities laws. These statements are distinguished by use of the words "will", "expect", "intend" and words of similar meaning. Although Highwoods believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions, it can give no assurance that its expectations will be achieved.

Factors that could cause actual results to differ materially from Highwoods' current expectations include, among others, the following: the financial condition of our customers could deteriorate; development activity by our competitors in our existing markets could result in excessive supply of properties relative to customer demand; development, acquisition, reinvestment, disposition or joint venture projects may not be completed as quickly or on as favorable terms as anticipated; we may not be able to lease or re-lease second generation space quickly or on as favorable terms as old leases; our markets may suffer declines in economic growth; we may not be able to lease our newly constructed buildings as quickly or on as favorable terms as originally anticipated; unanticipated increases in interest rates could increase our debt service costs; unanticipated increases in operating expenses could negatively impact our NOI; we may not be able to meet our liquidity requirements or obtain capital on favorable terms to fund our working capital needs and growth initiatives or to repay or refinance outstanding debt upon maturity; the Company could lose key executive officers; and others detailed in the Company's 2013 Annual Report on Form 10-K and subsequent SEC reports.